-- Connecting the dots between our economy, government and business --
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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Dictator for Life Jabba is clearly insane. It’s like the last days of the Third Reich when a crazed and delusional Hitler directed imaginary armies from his bunker full of sycophants to stop real Russian forces. The money in the budget is no more real than the decimated German army
Delusional is the only word to describe this congressional session. Between insane spending, infanticide, legal marijuana, green new deals, the bevy of new taxes, and the $45B infrastructure boondoggle, the word delusional is really the only word I can use to describe them.